Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-06-16

DC 10 clear the coast mere so tD6u COM
merce can 90 on in it's accustomed
grooves. The tendency is to equalize
/ this with other markets of the world and
put stocks in their legitimate channels.
The actual result, of course, is a rather
serious one; but hope, in fact have no
reason to apprehend anything further"
A prominent broker said: "The mar
ket is now backed and we have no reason
to apprehend anything further. l don't
think we will have any more cliques for
a while yet, as the one that has collapse d
has bitten Gilmore than it could chew and
the lesson won't,be forinaugbt. The deal
was undoubtedly the largest one ever run
| in Chicago and there was more wheat
bought than ever before. l don't appre-
bend any serious break for the present.
Prices as the market is now are down to
the level CT other markets"
2. D. lrmour, when asked what effect
the panic would have on financial affairs,
said: "Nona whatever. In a week from
now you won't know that there was
wheat or coffee deal, and the atmosphere
VIII be cleared up in less than week
from now. The losses were made some
time ago when wheat was margined TO
nearly its value if not quite and the banks
NSAS onpIJ SGSuIcus uOu lOOh upOn
the break as any calamity at all. What
ever wheat there is, is wanted for export
and it will bring as good prices if not
better than before the break. Wheat at
IS cents per bushel is better than gold
dollars at 80 cents. You see the people
abroad want the stuff and they are going
to have it. 1t is q good thing that this
break came when it did. Most everybody
( nd no Am, i-
over | believe that it will make money
easier"
NEW YORK MARKET QUIET.
NEW YORK, June 10 IL A. M.-There
is nothing special in the wheat market up
to this DOur. Prices have been a little
irregular. The first sales showed g
gain of &c, but rallylng movement soon
set in, leading to break of ta$C. Spec
ulative dealings are more moderate and
mainly OF scalping nature.
AT MILWAUKEE
MILWAUKEE, Wis, June l5.-I0:l5 A.
M.-Complete staGnation prevails on
Change this morning. There is no eX-
whatever. Traders are waiting
for news from Chicago concerning the in
tentions OF G. j. Kershaw & Co. July
wheat opened st an advance of lC over !
last nights closing, but the report of !
three additional failures at Chicago !
knocked it down lie and II now rules |
weak at 74%c.
GOVERNMENTS, STOCKS AND BONDS.
NEW YORK, June l5.-There was more !
confidence in the stock market this morn
ing, which was aided by the purchase for |
foreign account, and reassuring advices |
from Chicago that the break was over.
Later, however, the tenor Of |
Chicago dispatches changed and the
failure Of Chicago house on the stock
exchange here was announced.
Later the market yielded readily and
broke nearly three points. The market
continued unsettled and irregular
throughout the day and money was again
up to per cent. There was
good buying, however, late in the after
noon and with very few exceptions the
inal losses are for insignificant fractions
only. Some disappointment was caused
Dy the failure of the Vanderbilt roads to
declare expected dividends to-day, and
his was made profit of by traders upon
hose properties, but they received good
support aud their fluctuations ere very
light. The reduction in rates for sterling
Exchange late in the day also tended to
Aid their recovery at that
time. The opening was active
and strong, at advances over yesterdays
closing prices from ! to 1 per cent. The
opening figures were generally the highest
81 the day, prices early beginning to sag.
The activity was of snort duration, and !
toward noon decided weakness was de-
7eloped. The lowest prices were gen
orally reached in the neighborhood of l
o'clock, after which slow but steady APP
probation of values took place which
gathered force in the last hour, the close
being quiet but firm, close to the opening
figures. A majority of the active
list are small fractions higher |
this evening. Denver preferred is
up IL. The declines are comparatively |
few and confined to insignificant fractions
with the exception of the Jersey Central |
which showed loss of II.
Railroad bonds we're unusually dull. !
The changes are about equally divided |
between gains and losses.
Government bonds were dull and
steady.